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CIMA certificate level subjects and syllabus

CIMA certificate level subjects and syllabus

CIMA certificate level subjects and syllabus

The Chartered Institute of Management Accountants (CIMA) is a UK based professional body offering training and qualification in management accountancy and related subjects. It is focused on accountants working in industry, and provides ongoing support and training for members.

CIMA is one of the professional associations for accountants in the UK and Ireland. Its particular emphasis is on developing the management accounting profession. CIMA is the largest management accounting body in the world with more than 227,000 members and students in 179 countries. CIMA is also a member of the International Federation of Accountants.

CIMA operates a standard scheme of qualifying examinations for prospective members. It promotes local education, training and management development operations, and new techniques through its research foundation and the dissemination of management accounting practices through publications and other media related activities. CIMA has been active in recent educational and vocational initiatives in former Eastern bloc countries. It publishes a monthly journal, supplied free to members and registered students, called ‘Financial Management’.

CIMA is recognised as a professional accounting body for various statutory purposes by UK and various overseas governments. The institute regulates the activities of its members by a code of practice, a discipline committee and (a recent innovation) a continuing education scheme. Its governing body is its council, comprising members elected from regional branches. Each of the branches has a committee and is responsible for much of the ‘grass roots’ activity. Activity such as qualification development is undertaken from the London head office.

The CIMA Global Business Challenge, an annual international business and strategic management competition for undergraduates around the world, is designed to bring out the best in the young business leaders of tomorrow.

In July 2009, CIMA added an online community – CIMAsphere – to its website. The community consisted of a range of blogs, discussion boards, groups, community answers, expert Q&A sessions and some social networking features for members, students and the general public. This has since been shut down. Members are instead encouraged to join the CIMA LinkedIn group, and students are directed to CIMAconnect, an online study support portal.

In 2011, CIMA entered into a joint venture with the American Institute of Certified Public Accountants (AICPA) to launch a global management accounting designation called the Chartered Global Management Accountant (CGMA).In the Americas outside the U.S., non-U.S. CPAs can obtain the new designation as an AICPA International Associate, after a rigorous assessment process. In the rest of the world, new designation holders are able to become members of CIMA after the same assessment process.

CIMA is proactive to tie up with American CPA because of the current convergence trend between US-GAAP and IFRS, reinforced following the merger of the iconic New York Stock Exchange with Germany’s Deutsche Boerse AG. “It remains to be seen whether companies listed in a combined exchange would be required to report under IFRS, US GAAP or both, but as the US appears to be moving towards IFRS adoption it is more likely the international standards would be the accounting rules of choice”.

CIMA certificate level subjects and syllabus

How to obtain the qualification

To obtain the CIMA Certificate in Business Accounting qualification, an applicant must:

• register as a student with CIMA

• study for, sit and pass five computer based examinations, as defined within the syllabus.

CIMA certificate level subjects and syllabus

Aims of the syllabus

The aim of the syllabus for the CIMA Certificate in Business Accounting qualification 2011 are:

• to enable the institute to examine whether students have an adequate knowledge, understanding and mastery of the stated body of knowledge and skills

• to complement the institute’s work based practical experience and skills development objectives.

CIMA certificate level subjects and syllabus

Structure of the syllabus

The syllabus comprises five subjects:

• C01 Fundamentals of Management Accounting

• C02 Fundamentals of Financial Accounting

• C03 Fundamentals of Business Mathematics

• C04 Fundamentals of Business Economics

• C05 Fundamentals of Ethics, Corporate Governance and Business Law

CIMA certificate level subjects and syllabus

  • C01 Fundamentals of Management Accounting

This exam deals with the basic techniques for the identification and control of costs and cost management. It introduces the context of management accounting in commercial and public sector bodies and its wider role in society

  • C02 Fundamentals of Financial Accounting

This exam takes candidates through conceptual and regulatory frameworks, accounting systems, preparing accounting statements for single entities, and the necessary controls for accounting systems.

  • C03 Fundamentals of Business Mathematics

This exam introduces students to basic mathematics, probability, summarising and analysing data, variables, forecasting, financial mathematics and spreadsheets ie business applications of mathematics.

  • C04 Fundamentals of Business Economics

This exam covers the goals and decisions of organisations, the market system and the competitive process, the financial system and the macroeconomic context of business.

  • C05 Fundamentals of Ethics, Corporate Governance and Business Law

This exam covers ethics and business, ethical conflict, corporate governance, comparison of English law with alternative legal systems, the law of contract, the law of employment, and company administration and finance

CIMA certificate level subjects and syllabus

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CIMA certificate level subjects and syllabus

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